Odaily reports that the liquidation risk for Bitcoin longs below $85,000 exceeds $100 million, and the sharp volatility may signal a retest of the $81,000 support level. Ryan Lee, Chief Analyst at Bitget Research, said that the main reason for the current sell-off is the decreased risk appetite of cryptocurrency investors, with Bitcoin price fluctuating in a consolidation range and falling to the $89,000 level, and short positions also retracing below the support level. If the bearish behavior continues, it may test the next support levels around $86,000 and $81,000. Hong Yea, Co-founder and CEO of the hybrid cryptocurrency exchange GRVT, stated that the $85,000 price level is crucial, and if BTC breaks below this support, it may trigger further downside.